WTO loses power to decide trade disputes

The World Trade Organization (WTO) has lost the power to decide disputes between its members. This is the first time this has occurred since its creation in 1995, and it means that major commercial disputes, such as the conflict between the United States and China, can no longer be resolved through arbitration.

164 countries and territories are part of the WTO. When its members cannot reach an agreement on their own, they can call an organization panel. If the parties in question do not agree with the panel's decision, an appeal can be made. It is then up to the WTO appeals body to make a final decision, which has the force of law. However, it is no longer functioning as a court of justice.

Typically, the appellate body has seven judges. This number, however, dropped to just one this Tuesday (10), the day on which the mandate of two of its last three judges came to an end.

The World Trade Organization has not been able to find new magistrates, as the US has rejected all the candidates presented. Washington has accused the appeals body of not complying with rules regarding the decision-making timetable. The American side also states that it will not support a new nomination that would allow the court to continue to act.

The director general of the World Trade Organization, Roberto Azevedo, said that he intends to consult several member countries of the organization, in order to find a way out of the current impasse.

Source: agrolink

Facebook
twitter
LinkedIn

Aboissa supports

Stay up to date with news
and the best opportunities in
agribusiness – sign up now!

Asia

Saudi Arabia

Bangladesh

China

singapore

South Korea

United Arab Emirates

Philippines

India

Indonesia

Iraq

Jordan

Lebanon

Malaysia

Oman

qatar

Türkiye

Vietnam

Hong Kong

America

Argentina

Bolivia

Brazil

Canada

Chile

Colombia

Ecuador

U.S

Guatemala

british virgin islands

Mexico

Nicaragua

Panama

Paraguay

Peru

Uruguay

Suriname

Venezuela

Dominican Republic

Costa Rica

Africa

South Africa

Algeria

Cameroon

Costa do Marfim

Egypt

Liberia

Morocco

Sierra Leone

Sudan

Kenya

Tunisia

Mauricio Islands

Europe

Albania

Germany

Belgium

Bulgaria

Spain

Finland

France

England

Italy

Lithuania

Poland

Portugal

Russia

Türkiye

Serbia

Sweden

Switzerland

Ukraine

Cyprus

Estonia

Ireland

Romania

Oceania

Australia

New Zealand

Request a quote!

Fill out the form and get support for your business needs.
Our experts are ready to offer customized solutions.

*We are currently not working with intermediaries.

By providing my data, I agree with the Privacy Policy.